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Rebates for plug in hybrid vehicles8/1/2023 ![]() In addition, your modified adjusted gross income (AGI) may not exceed: Not have claimed another used clean vehicle credit in the 3 years before the purchase date.Not be claimed as a dependent on another person’s tax return.Be an individual who bought the vehicle for use and not for resale.You may qualify for a credit for buying a previously owned, qualified plug-in electric vehicle (EV) or fuel cell vehicle (FCV), including cars and light trucks, under Internal Revenue Code Section 25E. Purchases made before 2023 don't qualify. You can't apply any excess credit to future tax years. ![]() The credit is nonrefundable, so you can't get back more on the credit than you owe in taxes. The credit equals 30% of the sale price up to a maximum credit of $4,000. Beginning January 1, 2023, if you buy a qualified used electric vehicle (EV) or fuel cell vehicle (FCV) from a licensed dealer for $25,000 or less, you may be eligible for a used clean vehicle tax credit (also referred to as a previously owned clean vehicle credit).
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